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Marqeta Rises in Debut. The Payments Stock’s Valuation Is $17.3 Billion.

·3 min read
Marqeta Rises in Debut. The Payments Stock’s Valuation Is $17.3 Billion.
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Marqeta stock gained 13% in its first day of trading after the payments processor raised a larger-than-expected $1.2 billion in an IPO. Shares of Marqeta (ticker: MQ) stock kicked off at $32.50, peaked at $32.75 and closed Wednesday at $30.52, up $3.52 from its offer price. Going public through a traditional IPO brings visibility to Marqeta’s strength as a business, chief financial officer Tripp Faix told Barron’s from the Nasdaq.